This sport of ice fishing has commonly used a wide variety of fishing rigs which do not need constant attention in order to permit ice fisherman to watch their fishing rigs from the comfort of ice shelters some distance from the rigs. In general, these fishing rigs provide a signal which is activated when a fish strikes the line and causes the fishing reel to rotate. A variety of systems have been developed that permit a flag or some other signal to be displayed when a fish strikes. The most pertinent art known to the applicant include U.S. Pat. Nos. 4,566,216; 3,645,029; 3,641,693; 4,285,154; 4,030,223; 4,021,958; 3,888,035; and 4,120,111. Of these, perhaps the most relevant to the present invention are U.S. Pat. Nos. 3,645,029 and 4,566,216. U.S. Pat. No. 4,566,216 generally discloses an ice fishing rig in which a signal is positioned within a tubular pole with the signal normally covered by a screen. The screen is released and falls by the force of gravity through a leverage system activated when the fish strikes the line. U.S. Pat. No. 3,645,029, on the other hand, describes an ice fishing rig in which a signal is raised under the force of mechanical spring mechanisms that are released when a fish strikes the line. Both of these rigs rely upon a mechanical actuation of the signaling devices. In the first, a leverage system is operable only under the force of a fish pulling the line. The second system is dependent upon the force of the pull by the fish and is severely limited by ambient problems and conditions of freezing. For example, the rotating and movable components may freeze, thus making the system entirely inoperable. The second reference, U.S. Pat. No. 3,645,029, has similar mechanical movement limitations. In that system, the restraining means, comprising magnetic components, must be stronger than the spring mechanism which propels the signal upwardly. In addition, freezing water inside the tube may make the system inoperable. Serious limitations also exist in respect to the strengths of the magnet and the relationship of the spring mechanism.